"The IPL title sponsorship right has been assigned to M/S Vivo mobiles. Vivo is to give the Bank Guarantee in next ten days," the BCCI said in a statement announcing decisions taken at its all-powerful working committee meeting.
"The inspection report is under examination," Corporate Affairs Minister Arun Jaitley said in a written reply to the Lok Sabha. India Cements, which violated the provisions of Companies Act, relating to not furnishing particulars of employees in the report, was warned for its action.
The IPL GC, headed by politician Rajeev Shukla, is expected to delve deep into the finer points of the strong judgment issued a few days ago by three-member Supreme Court-appointed panel headed by former Chief Justice of India, R M Lodha
With two teams suspended from the IPL, global giant PepsiCo on Thursday said it expects the issues surrounding the event to be addressed swiftly, even as reports suggested it may pull out as the title sponsor of the cricketing league.
Further, winner of the IPL in 2010, 2011 and 2014, Chennai Super Kings has been suspended for 2 years from participating in the 20-20 cricket tournament.
Earlier on Tuesday morning, the Supreme Court gave Srinivasan four options if he, along with the BCCI, did not want the court to issue adverse orders.
The Apex court's observation comes in the light of indictment of CSK official Gurunath Meiyappan in betting case.
Senior advocate Harish Salve, appearing for Cricket Association of Bihar(CAB), on whose plea apex court had directed probe in IPL-6 betting and spot fixing scandal, said the stand taken by Srinivasan and India Cements that Meiyappan was just a cricket enthusiast was to cover him up and the IPL franchise in the scam.
Observing that it is a "serious issue that can't be wished away", the apex court also made it clear that it will consider the conduct of his son-in-law Gurunath Meiyappan, an official of Chennai Super Kings, while deciding his plea to get back his post from which he had to step aside in June last year
While giving its findings on Srinivasan, the panel said "this individual is not involved with match fixing activity. This individual was not found to be involved in scuttling the investigations into match fixing."
The Supreme Court is examining a probe report submitted by a panel headed by retired judge Justice Mukul Mudgal. The panel had submitted its second and final report to the Supreme Court on November 3.
The Supreme Court today named Srinivasan, his son-in-law Gurunath Meiyappan, Rajasthan Royals owner Raj Kundra, cricket administrator Sundararaman, who were probed by the Justice Mudgal committee which had found "some misdemanour by certain persons" and indicted them in the IPL6 scam.
"The report has been submitted in a sealed cover. Court will decide what to do now," Justice Mudgal told reporters. "I cannot say more about the report, case will come [up for hearing] on November 10."
The report, however, says that more investigation is necessary against Rajasthan Royals owner Raj Kundra who is also facing charges of betting and match-fixing. The Justice Mukul Mudgal committee had submitted its report earlier on Monday. The Supreme Court will examine the panel's report on March 7.
The application in this regard was mentioned before a bench headed by Justice AK Patnaik which agreed to hear it on February 10.
Joint Commissioner of Police (Crime) Himanshu Roy showed up before the committee in a five-star hotel where he and his team submitted evidence gathered, particularly against BCCI chief N Srinivasan's son-in-law Meiyappan, to the panel, police sources said.
Gurunath Meiyappan was chargesheeted for betting in the IPL scandal by the Mumbai Police on Saturday. The Mumbai police has said that they have not found any evidence of spot fixing against Meiyappan.
A sessions court on Thursday refused to grant interim protection to two absconders in the IPL betting racket. The police objected to the bail application by the accused and said that they were placing bets on the IPL matches.
The Board for Control of Cricket in India (BCCI) suspended Rajasthan Royals co-owner Raj Kundra till the inquiry gets over for his alleged involvement in betting on Indian Premier League (IPL) matches.
The outlook is even bleaker for India Cements as shareholders are worried about what the probe into the IPL spot fixing case holds for India Cements, since N Srinivasan‘s son-in-law Gurunath Meiyappan is among the key accused.
Beleaguered Board of Control for Cricket in India (BCCI) president N. Srinivasan stood down on Sunday in the wake of the spot-fixing scandal that has hit the game and led to the arrest of his son-in-law last month.
CNN-IBN accessed conversations between Vindoo Dara Singh and Gurunath Meiyappan that revealed the International Cricket Council (ICC) had warned the BCCI over the involvement of Meiyappan in betting.
Having avoided the media before and after the final of the Indian Premier League, India captain Mahendra Singh Dhoni on Tuesday maintained a stoic silence on the spot-fixing scandal that has, among others, also led to the arrest of CSK's Team principal Gurunath Meiyappan.
The Chennai Super Kings' (CSK) claim that Gurunath Meiyappan had no link with the team has been nailed. CNN-IBN has accessed visiting cards recovered from Gurunath Meiyappan's residence naming him as the Chennai Super Kings team principal
Bharatiya Janata Party (BJP) leader Rajiv Pratap Rudy said that the spot fixing issue in the Indian Premier League was an issue of corruption and said that it was good that the government was contemplating a law about it.